Biofertilizers comprise living microbes, which when applied to seed, plant, and soil, stimulate growth by supplying essential nutrients, such as N, P, and other mineral nutrients. The rise in demand for organic products is booming, due to the increase in conscientious consumers, but also due to rising incomes, along with improved farming practices that make organic yields more robust. This resulted in increased adoption of biofertilizers. In terms of a number of producers, India was the world's biggest producer of organic foods in 2019. India had 1.4 million organic food producers in that year, which was more than the total number of organic food producers in the other nine leading countries. Consumption of Organic Food Denmark and Switzerland are the two leading countries in terms of organic food consumption per capita, with yearly organic food consumption of USD 408.13 and USD 401.01, respectively. The first eight countries with the highest per capita consumption of organic food are all located in Europe. The United States and Canada were ranked ninth and tenth, respectively. Organic agricultural covers around 72 million hectares worldwide.
Even though India has the most organic food producers, Australia had by far the largest share of organic agricultural area in the world. Australia accounted for over half of all organic farmland in the planet. Australia was followed by Argentina and China, with 5.08 percent and 4.39 percent of the vote, respectively.
The COVID19 has resulted in a profound re-evaluation of the advantages and costs of biofertilizers. The pandemic has been a devastating disease worldwide. However, biofertilizers has witnessed a relatively stable market growth post-COVID-19 pandemic, with a similar trend of high demand in 2020 due to the increased demand for organic food. For instance, in France, organic food shops like Biocoop and Naturalia reported sales increases of over 30% since the COVID-19 crisis started. Biofertilizers can be developed easily, and therefore, are run by local manufacturers. As the produce can be manufactured by local businesses, the supply chain has been relatively unaffected by the crisis. As a result, in most nations, domestic producers are expected to dominate the market. For instance, as per Soyabean and Corn Advisor 2021, the soybean condition improved 2% whereas 60% rated good and excellent in the US region.
According to UnivDatos Market Insights (UMI)’ research report “Global Biofertilizers Market Analysis, 2020”, the Global Biofertilizers market is projected to grow at a CAGR of XX% during 2021-27F. The increased population has increased the need for organic food this has resulted in increased demand for biofertilizers, globally. In 2021, the global population is around 7 billion people, half of the global population is living in Asia, while one quarter of the global population resides in Africa. Moreover, the consumption of biofertilizers for agriculture use has significantly increased in Asia-Pacific region. As per Food and Agriculture Organization of the United Nations, in 2019, Asia used 6,258,499 tonnes of nitrogen nutrient and 24,051,102.26 tonnes of nutrient phosphate.
Based on the product, nitrogen fixing biofertilizers grabbed XX% revenue share in 2020. The market size of this segment touched US$ XX Billion in 2020. The market share of the segment is expected to maintain its dominance in the forthcoming years as well owing to the owing to the improvement of highly contaminated soil and water reserves due to use of synthetic fertilizers.
Based on the Application, the cyanobacter-based biofertilizers segment acquired the major market share and grabbed US$ XX Billion revenues from the Biofertilizers market in 2020. Reduced input cost and increase the bioavailability of phosphorus is boosting the growth.
Cyanobacter Surgery to Witness Robust growth
North America to Grab Lion’s Share, Bit Europe to witness Explicit Growth
Based on the Region, North America dominated the Global Biofertilizers market in 2020. The region is projected to maintain its dominance during the forecasted period 2021-27 owing to the increased area of agricultural lands has also been boosting the demand for biofertilizers. For instance, as per Knoema, the area of agricultural land increased from 4,030,811 million sq. km in 2012 to 4,058,104 million sq. km in 2018.
According to UnivDatos Market Novozyme, National Fertilizers Limited, Agrinos AS, Camson Bio Technologies Limited, Kiwa Bio-Tech Products group Corporation, Lallemand Inc, Rizobacter Argentina S.A., Monsanto BioAg, Mapleton Agribiotech, and Valent BioSciences among others. The players are focused on launching new products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry. Some of the instances are:
· In October 2020, Novozymes A/S launched three new biofertilizers that are proven to increase yields and enhance crop performance for pulses including lentils and peas, cereals (small grains), canola and soybeans.
· In March 2020, Kiwa Bio-Tech announced agreement with Huaxialitai Co., Ltd., a China state-owned enterprise that has an enormous fertilizer market channel throughout the Country of China. Under terms of the agreement, Huaxialitai will start to sell Kiwa’s fertilizer products.
· In February 2019, UPL Limited acquired Arysta LifeScience Inc. (Japan), a global provider of innovative crop protection solutions, for USD 4.2 billion. This acquisition would aid UPL in providing enhanced crop protection solutions and expand its presence in Africa, Russia, and Eastern Europe.
“Global Biofertilizers Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Biofertilizers providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
1. By Product (Nitrogen Fixing Biofertilizers, Phosphorus Biofertilizers, Compost Biofertilizers, And Liquid Biofertilizers)
2. By Microorganisms (Rhizobium, Azotobacter, Azospirillum, Cyanobacter, Mycorrhiza, Phosphate Solubilizing Bacteria, And Other Microorganisms)
3. By Crop (Fruits & Vegetables, Pulses & Oilseed, And Cereals & Grains)
4. By Application (Seed Treatment, Soil Treatment, And Others)
5. By Region (North America, Europe, Asia-Pacific, Rest of the World)
6. By Company (Novozyme, National Fertilizers Limited, Agrinos AS, Camson Bio Technologies Limited, Kiwa Bio-Tech Products group Corporation, Lallemand Inc, Rizobacter Argentina S.A., Monsanto BioAg, Mapleton Agribiotech, and Valent BioSciences, etc.)
Key questions answered in the study:
1. What are the current and future trends of the Global Biofertilizers industry?
2. How the industry has been evolving in terms of technology and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Biofertilizers industry?
5. What is the customer orientation, purchase behavior, and expectations from the Biofertilizers firms across various regions?
UnivDatos Market Insights (UMI), is a passionate market research firm and a subsidiary of Universal Data Solutions. Rigorous secondary and primary research on the market is our USP, hence information presented in our reports is based on facts and realistic assumptions. We have worked with 200+ global clients, including some of the fortune 500 companies. Our clientele praises us for quality of insights, In-depth analysis, custom research abilities and detailed market segmentation.